Monday , September 26 2022

Edo to support 500 MSMEs to grow revenue to N10m annually by 2025

The Edo State Government has unveiled the State Skills Development Agency (EdoJobs) Entrepreneurship Roadmap 2.0 targeted at assisting 500 Micro, Small and Medium Enterprises (MSME) communities to expand their revenue to N10 million annually in 2025.

The Managing Director, Mrs. Ukinebo Dare, said this at the unveiling of EdoJobs Entrepreneurship Roadmap 2.0, at the Government House, in Benin City.

She said the roadmap is in line with the vision of the Edo State Government to build a Micro, Small and Medium Enterprises (MSME) community, delivering services to 20,000 active members out of which 500 have become formalized and will grow their revenue to #10million annually by 2025.

According to her, the EdoJobs Business Success Scorecard provides upwardly mobile businesses with a roadmap to business success and is hinged on ten key milestones: Business formalization, sales and marketing competence, capacity for financial management, trade organization/association membership, human resource management, continuous capacity building, high technology adoption, product development and diversification, mentorship and networking as well as external funding.”

She added, “Each milestone is worth 50 points and any entrepreneur who reaches a score of 500 is fit to join the exclusive EdoFuture500 Business Community, a feat only those who are determined and disciplined can achieve.”

Head, Entrepreneurship, EdoJobs, Segun Majekodunmi, said the state government is investing in the programme to transform small, one-man businesses into employers of labour.

The Chairman, Edo State Government MSME Advisory Board, Mr. Peters Obaseki, urged entrepreneurs to follow the necessary requirements to be recognized entrepreneurs in the state to enjoy the benefits accruing to recognised entrepreneurs from the Edo State Government as well as local and international investors.

“With this, entrepreneurs in the state can grow their revenues and improve the sustainability of their businesses through a target-driven scorecard – the EdoJobs Business Scorecard,” he added.

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